i-Escrow, a provider of online escrow
services, has acquired Trade-direct Inc. another major
provider of escrow services and a pioneer in the industry. Financial terms
were not disclosed.
i-Escrow said the move “strengthens its leadership position in the emerging
escrow industry and accelerates the company’s brand acceptance as a trusted
third party for users of auctions, classifieds, storefronts and newsgroups on
the Internet.”
“This fits with our aggressive expansion plans and positions i-Escrow well to
capitalize on the growing demand for the safety and convenience that escrow
services provide,” said i-Escrow President Sherman Kwok.
i-Escrow provides transaction management and escrow services for users of Web
auctions, online classifieds, online storefronts and newsgroups. Users
include collectors, hobbyists and unbranded retailers.